Darden Restaurants, Inc. ( (DRI) ) has released its Q1 earnings. Here is a breakdown of the information Darden Restaurants, Inc. presented to its investors.
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Darden Restaurants, Inc. is a prominent player in the restaurant industry, owning and operating a diverse portfolio of well-known dining brands such as Olive Garden, LongHorn Steakhouse, and Cheddar’s Scratch Kitchen. The company is headquartered in Orlando, Florida, and is listed on the New York Stock Exchange under the ticker symbol DRI.
In its fiscal 2026 first-quarter earnings report, Darden Restaurants announced a robust 10.4% increase in total sales, reaching $3.0 billion. This growth was attributed to a blend of same-restaurant sales increases and the acquisition of Chuy’s Tex Mex restaurants. The company also declared a quarterly dividend and updated its financial outlook for the fiscal year.
Key financial highlights include a 4.7% increase in same-restaurant sales across its brands, with Olive Garden and LongHorn Steakhouse leading the growth. The company reported adjusted diluted net earnings per share of $1.97, marking a 12.6% increase from the previous year. Additionally, Darden repurchased $183 million worth of its common stock, reflecting its commitment to returning capital to shareholders.
Looking ahead, Darden Restaurants has updated its fiscal 2026 outlook, projecting total sales growth of 7.5% to 8.5%, including the impact of a 53rd week. The company plans to open approximately 65 new restaurants and anticipates same-restaurant sales growth of 2.5% to 3.5%. Darden remains focused on leveraging its competitive advantages to sustain growth and market share.
Overall, Darden Restaurants is poised for continued success, driven by strategic acquisitions, strong brand performance, and a commitment to shareholder value. The company’s management remains optimistic about its ability to navigate the current economic landscape and achieve its financial targets for the year.